Repackaging Your Services
Many coaches have a standard list of services that they offer and often it is some kind of bill-by-the-hour consultation. They might have another service or two occasionally but usually it’s this model… at least when they are starting out. But there are many other kinds of services to offer to expand your revenue-generating opportunities. In this post, we’ll list some of them:
* Consider offering a shorter or longer consultation. If you bill by the hour, consider having some half-hour and three-hour consultations. The half-hour ones should be more expensive per hour and the three hour ones should be less expensive per hour. (For example, if you bill $100/hour, set your half hour sessions to be $65 for the half hour and set your three hour sessions to be $250). This can help to fill time slots that are sometimes left empty because clients might want different "sizes" of your time.
* Do a dinner and consultation. If you meet in a more formal setting like your office, or your client’s office, it can be intimidating and even distracting. But a dinner and consultation is a little different, it helps to break the ice, and it can feel less strictly formal. Obviously you won’t want to do more than one for lunch and one for supper (or you’ll need some weight loss coaching) but this is a good way to add two additional consultations.
* Create a group coaching situation. Depending on what kind of coaching you do, a group coaching situation might work out well. As long as the subject matter isn’t too personal, you can help people in larger settings and they can even help each other. Although you might not charge the same rate you would charge for a single one-on-one hour, you will actually make more because you’ll have several people paying a smaller fee. For example, you might have 4 people each paying $60 for an hour.
* Create training content. Coaching is often thought of as one-on-one consulting but training is a slightly larger and slightly less "conversational". But it’s still coaching! Create training topics around your particular areas of expertise and offer them for free (with follow-up paid one-on-one coaching) or to businesses through their HR or training department.
* Create specific milestone-related coaching. One example might be that you work through a particular book with a client (such as a workbook or a book that is available at bookstores). When the milestone is complete, the coaching is finished. This might not appeal to everyone (because of the challenge of finding new clients) but clients might like it because it is very focused and can be presented as a single price point for one specific coaching "project".
You probably have a few standard revenue generation models – with the hourly consult being the most popular and probably your biggest seller – but there are other ways of looking at your business and by repackaging your coaching into innovative forms, you’ll earn more revenue!
Contemporary VA - Run your business instead of running in circles.
@ContemporaryVA on Twitter. Follow us to stay updated with our many resources that include business, accounting and bookkeeping, social media, and much more!
Related Articles:
- Skills Coaching
- “I want to make more money”
- But I’m a Coach
- The Clock Is Ticking
- The Tipping Point To Acquire New Clients
Did you enjoy this post? Why not leave a comment below and continue the conversation, or subscribe to my feed and get articles like this delivered automatically to your feed reader.
Comments
No comments yet.
Leave a comment